TVS Motor's Q3 consolidated revenue grows 10% to Rs 11,135 cr; EV sales surge 57%

TVS Motor Company reported strong financial performance for the third quarter ended December 31, 2024, with consolidated revenue growing 10% year-over-year to Rs 11,135 crores, driven by robust sales across segments and particularly strong momentum in electric vehicles.

The Chennai-based two-wheeler manufacturer achieved its highest-ever operating EBITDA margin of 11.9% during the quarter, marking a 70 basis points improvement over the same period last year. The company's consolidated profit after tax rose to Rs 609.35 crores, up from Rs 509.61 crores in the corresponding quarter last year.

Overall sales volume, including exports, grew by 10% to 12.12 lakh units in Q3 FY25 compared to 11.01 lakh units in Q3 FY24. The company's electric scooter sales showed particularly strong growth, increasing 57% to 75,771 units compared to 48,223 units in the same quarter last year.

The company's operating EBITDA for the quarter grew by 17% to Rs 1,081 crores, while profit before tax increased by 8% to Rs 837 crores. The quarter's performance was particularly notable in the scooter segment, which grew by 22% with sales of 4.93 lakh units.

For the nine months ended December 2024, the company's consolidated revenue grew by 13% to Rs 32,843 crores, while total two-wheeler sales increased by 14% to 34.29 lakh units. Electric vehicle sales for the nine-month period showed strong growth of 40%, reaching 2.03 lakh units.

The company's motorcycle sales grew by 6% to 5.56 lakh units in Q3, while three-wheeler sales stood at 0.29 lakh units. The export performance remained robust with the company's two-wheeler exports growing by 19% during the nine-month period.